The Editorial Team |

Kenyan Economy to Shrink For First Time in 27 Years, IMF Says

NAIROBI (Capital Markets in Africa) — Kenya’s economy will contract for the first time in almost three decades, according to the International Monetary Fund. The lender now sees gross domestic product shrinking by 0.3% in 2020, compared with an April projection of 1% growth, according to a regional economic outlook update published Monday. That will be the first annual contraction since 1993. The economy will expand 4% next year, the IMF said, down from 6.1% projected two…

Sasol’s Mozambique Pipeline Sale to Receive Binding Bids in July

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MAPUTO (Capital Markets in Africa) — Sasol Ltd. expects binding bids within weeks for its stake in a natural gas pipeline running from Mozambique to South Africa, as the company accelerates asset sales to pay off debt, according to people familiar with the process. The bidding round underway for the Rompco 865-kilometer (537-mile) gas pipeline stake concludes in late July, according to two of the people who asked not to be identified because the information…

Panicked Investors Inundate Brokers After Zimbabwe Shuts Bourse

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HARARE (Capital Markets in Africa) — Stockbrokers in Zimbabwe are struggling to explain to investors what’s happened to their money after the government shut down the stock exchange. The Zimbabwe Stock Exchange announced Sunday it suspended trade to comply with a directive issued by the Information Ministry late Friday that the bourse close. It’s the latest in a series of measures the government has implemented to try and stabilize the nation’s currency. Traders have been…

Tech Advancements in the Slot Industry during the 20th Century

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LONDON (Capital Markets in Africa) – During the 20th century, many advancements occurred that you may not already know about. This has ranged from what the slots machines looked like in their initial appearance to the fact that they were not always games that could help you to win cash prizes. Finding out how these fun and much-loved casino games at www.666casino.com started is a great way for us to learn just how far they…

The Rise of Cryptocurrency – the Future of Online Casino?

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LONDON (Capital Markets in Africa) – Playing at an online casino is a thrilling experience, and it’s an experience which has been made all the more accessible due to the rise of multi-platform optimisation. In addition, cryptocurrency has made way for more of us to play casino games safely, and nobody can argue cryptocurrency payments at an online casino at www.slotzo.com isn’t the most secure payment method. Throughout the history of slots and other casino…

Nigeria to Unify Exchange Rates Around Investors’ Window

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LAGOS (Capital Markets in Africa) — Nigeria will continue to pursue exchange rate convergence around what is offered in the investors and exporters window, otherwise called nafex, the regulator said. “Exchange rate unification is moving toward the nafex,” central bank governor, Godwin Emefiele said on a call with investors on Tuesday. People buying dollars from the parallel market are engaged in ‘illegal business’ and ‘corrupt practices’ and the bank will not use the unofficial market as base…

Olam to Expand Nigeria Rice-Milling Capacity by 50%

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LAGOS (Capital Markets in Africa) — Olam International Ltd., one of the world’s largest food traders, will increase its rice-processing capacity in Nigeria by half as it moves to benefit from the country’s increasing investment in the food crop. The company plans to build a second line at its factory in the northern Nigerian state of Nassarawa to provide an additional 120,000 tons of million capacity per annum by 2021, Ade Adefeko, vice president, corporate…

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